The rating agency Moody's Investors Service assigned a Baa3 long-term local
currency issuer rating to AS LHV Group, with a positive outlook. This is the
first rating assigned to AS LHV Group.
According to Moody's, the issuer rating of Baa3 reflects LHV Group's principle
role as a bank holding company for its main operating subsidiary, AS LHV Pank.
The bank has a current Baa1 rating on Bank Deposits. Moody's assessed that the
group has a clear governance structure and processes in place to manage their
risks, supporting Moody's view of low risk of governance failures.
The outlook on LHV Group's issuer rating is positive. This reflects Moody's
expectations that the bank continues to grow its creditworthiness.
The rating allows LHV Group better access to funding from international capital
markets.
Announcement on rating agency's page: https://www.moodys.com/research/Moodys-
assigns-Baa3-issuer-rating-to-LHV-Group-positive-outlook--PR_452805.
LHV Group is the largest domestic financial group and capital provider in
Estonia. LHV Group's key subsidiaries are LHV Pank, LHV Varahaldus, and LHV
Kindlustus. LHV employs over 620 people. LHV's banking services are used by
290,000 clients, the pension funds managed by LHV have 174,000 active clients,
and LHV Kindlustus protects a total of 132,000 clients. LHV's UK branch offers
banking infrastructure to over 160 international financial services companies,
via which LHV's payment services reach clients around the world.
Priit Rum
Communication Manager
Phone: +372 502 0786
Email: priit.rum@lhv.ee
(https://www.globenewswire.com/Tracker?data=mD3z5ZX32tZ30wvWT09LIzVysIFdBHKlsXAe
r5Y9gfMoRS3f_rgPwkH9njhYyu4a_b26s5WH9hZTdH0y-O89ow==)
|